RBL Savings account for better Interest rates

can we opt for virtual card only? I don’t want physical card and associated fees

RBL credit cards customer support doesn’t have good reviews & I expect the same for their bank accounts.

guest_999 wrote:

RBL credit cards customer support doesn’t have good reviews & I expect the same for their bank accounts.

which card do you have ? Any other bank providing high interest rates on fd with minimum miscellaneous charges ?

All is not well with RBL;

Reserve Bank of India (RBI) appointed Yogesh Dayal, the chief general manager in-charge of department of communication, as an additional director on the board of the bank. Later in the day, the bank communicated to the exchanges that RBL Bank’s long-term MD and CEO Vishwavir Ahuja, a veteran banker, has gone on leave with immediate effect

chotabaxxa800 wrote:

which card do you have ? Any other bank providing high interest rates on fd with minimum miscellaneous charges ?

I don’t have rbl credit card but I did interact with rbl credit card dept when they were pestering me to take their card & I even applied once & my experience was similar regarding their customer support. You can take a look at Equitas small finance bank(partner of google pay for providing FD).

caks2006407 wrote:

All is not well with RBL;

Reserve Bank of India (RBI) appointed Yogesh Dayal, the chief general manager in-charge of department of communication, as an additional director on the board of the bank. Later in the day, the bank communicated to the exchanges that RBL Bank’s long-term MD and CEO Vishwavir Ahuja, a veteran banker, has gone on leave with immediate effect

Every bank is having some issues…. Some bank issues come out.. Some don’t..

Some are just running because people need their account… Means its considered mandatory in middle class like sbi… 

… Main reason for issues is no transaparency….. No accountability… And randomly clearing loans from their books to Favorable clients….. 

caks2006407 wrote:

All is not well with RBL;

Reserve Bank of India (RBI) appointed Yogesh Dayal, the chief general manager in-charge of department of communication, as an additional director on the board of the bank. Later in the day, the bank communicated to the exchanges that RBL Bank’s long-term MD and CEO Vishwavir Ahuja, a veteran banker, has gone on leave with immediate effect

Well this happened on last Christmas, but all the communication after that didn’t suggested any financial deterioration.

As per online sources the reason for CEO departure was EGO tussle with RBI top honchos, which seems to be more likely cause than any financial issue at bank

Better open zero balance online on au bank for similar rates

vivek4uuuu wrote:

Better open zero balance online on au bank for similar rates

AU account provides mandatorily physical debit card if i am not wrong . Dont want to pay fees for another debit card 

chotabaxxa800 wrote:

AU account provides mandatorily physical debit card if i am not wrong . Dont want to pay fees for another debit card 

Open account with 25k minimum balance and you will get free lifetime debit card. Using this bank since 5 years. No issues. No extra charges.

AtulAggarwal wrote:

Open account with 25k minimum balance and you will get free lifetime debit card. Using this bank since 5 years. No issues. No extra charges.

get the physical debit card for 1 yr then block it.

After blocking there is no renewal fees

utking wrote:

get the physical debit card for 1 yr then block it.

After blocking there is no renewal fees

is there any option of virtual card too ? 

can upi be used without debit card authentication ?

utking wrote:

get the physical debit card for 1 yr then block it.

After blocking there is no renewal fees

can account with mab 25k be downgraded to lower variant and still retain free debit card?

chotabaxxa800 wrote:

is there any option of virtual card too ? 

can upi be used without debit card authentication ?

You can Put/Deposit Money through any third party UPI apps without DC Authentication, but can’t transfer/withdraw money.

Just Open an account online…
It is called Prine Savings Account.
It is a digital Aadhar OTP Account.
Average Maintain Balance – 5000
If u don’t want to maintain, just create an RD of 2000.
You will get a Virtual Debit Card.

Now starts the Game…
Trust me, u will get easily upto hundred calls in very short time.
To do KYC.
Even after doing KYC, U will get calls to do KYC.
THEN, you will get calls repeatedly to take a physical debit card or upgrade to signature card,which is a highly chargeable, not free.

I never took delivery of virtual card forget about upgrading.
There are charges for physical card also.

And Do Learn about plenty of restrictions on OTP Account.

Like 1Lakh before KYC,
upto 2 Lakh after KYC.

And don’t do many transactions as account will get locked and u won’t get access until u provide proof for the source of money.

There is no specific info about how many are actually many transactions.

Parashuuram wrote:

Just Open an account online…
It is called Prine Savings Account.
It is a digital Aadhar OTP Account.
Average Maintain Balance – 5000
If u don’t want to maintain, just create an RD of 2000.
You will get a Virtual Debit Card.

Now starts the Game…
Trust me, u will get easily upto hundred calls in very short time.
To do KYC.
Even after doing KYC, U will get calls to do KYC.
THEN, you will get calls repeatedly to take a physical debit card or upgrade to signature card,which is a highly chargeable, not free.

I never took delivery of virtual card forget about upgrading.
There are charges for physical card also.

And Do Learn about plenty of restrictions on OTP Account.

Like 1Lakh before KYC,
upto 2 Lakh after KYC.

And don’t do many transactions as account will get locked and u won’t get access until u provide proof for the source of money.

There is no specific info about how many are actually many transactions.

Oh no.. I thought of opening an account for signature banking.. By seeing all this.. I hav changed my idea.

chotabaxxa800 wrote:

AU account provides mandatorily physical debit card if i am not wrong . Dont want to pay fees for another debit card 

On call you need to say when doing kyc I don’t need physical card only virtual card is needed then you will not get the physical card or go to branch and open bsbda account card is free on that

I have large FDs with RBL and also have an Insignia savings account which is invite only and needs a minimum 30 lakhs relationship. You get a private lounge to sit and do your banking as well as a couple of dedicated senior level managers to assist you. On the whole, everything works ok on their app and online. However, the customer service is mediocre. They are nice but not super efficient. I have a couple of credit cards with them too including the top tier Insignia card. Rewards points are often not credited and it is nealry impossible to redeem them as the site never works. I hardly use these cards so it is not a big issue for me. There are no issues with general banking or online transactions.

Lobogris wrote:

I have large FDs with RBL and also have an Insignia savings account which is invite only and needs a minimum 30 lakhs relationship. You get a private lounge to sit and do your banking as well as a couple of dedicated senior level managers to assist you. On the whole, everything works ok on their app and online. However, the customer service is mediocre. They are nice but not super efficient. I have a couple of credit cards with them too including the top tier Insignia card. Rewards points are often not credited and it is nealry impossible to redeem them as the site never works. I hardly use these cards so it is not a big issue for me. There are no issues with general banking or online transactions.

why so much money in not so strong bank?

chotabaxxa800 wrote:

why so much money in not so strong bank?

This is one of the banks for diversification. I have a comparatively small amount there. I don’t think there are any safety concerns with RBL at the moment. 

Lobogris wrote:

This is one of the banks for diversification. I have a comparatively small amount there. I don’t think there are any safety concerns with RBL at the moment. 

after opening account online does bank send any kit to home address ?

chotabaxxa800 wrote:

after opening account online does bank send any kit to home address ?

Yes. I opened in the branch though. 

So far no issue with rbl, need to maintain 5k balance to avoid any charges, no faltu ka charge was imposed by them to me till now..(with them since 2019)
I opened online, then they have a limit of 1lac, so have to visit branch for physical kyc to enhance the limit.
Also, upto 5lac is insured as per rbi..so not an issue i guess.

Lobogris wrote:

This is one of the banks for diversification. I have a comparatively small amount there. I don’t think there are any safety concerns with RBL at the moment. 

30 lakhs is “comparatively small amount”, what are you even doing on DD

Lobogris wrote:

I have large FDs with RBL and also have an Insignia savings account which is invite only and needs a minimum 30 lakhs relationship. You get a private lounge to sit and do your banking as well as a couple of dedicated senior level managers to assist you. On the whole, everything works ok on their app and online. However, the customer service is mediocre. They are nice but not super efficient. I have a couple of credit cards with them too including the top tier Insignia card. Rewards points are often not credited and it is nealry impossible to redeem them as the site never works. I hardly use these cards so it is not a big issue for me. There are no issues with general banking or online transactions.

How can I check that which all RBL bank branches have private lounge ?

mojo_jojo123 wrote:
How can I check that which all RBL bank branches have private lounge ?

Not sure. They have some specific branches designated as Insignia but those are very few. Some other ones have small Insignia lounges. It is not anything fancy like an airport lounge. Just like an office room with a sofa or two. Someone brings you tea or coffee and an employee is there to help you with your transaction. Meaning if you want to deposit a cheque or make a draft, this employee will fill the form and get it done while you sip your beverage. In any case, you get a couple of mid management level people as your direct service reps. I hate having to go join a line. Even in other banks with no designated lounge, I can mostly sit in the manager's office and they offer some beverage while they call someone to do my transaction. 

Lobogris wrote:

I have large FDs with RBL and also have an Insignia savings account which is invite only and needs a minimum 30 lakhs relationship. You get a private lounge to sit and do your banking as well as a couple of dedicated senior level managers to assist you. On the whole, everything works ok on their app and online. However, the customer service is mediocre. They are nice but not super efficient. I have a couple of credit cards with them too including the top tier Insignia card. Rewards points are often not credited and it is nealry impossible to redeem them as the site never works. I hardly use these cards so it is not a big issue for me. There are no issues with general banking or online transactions.

couple of credit cards from RBL , how many and which variants bro ?

beastboy wrote:
couple of credit cards from RBL , how many and which variants bro ?

RBL Montly Treats which is mostly useless as they generally never credit the rewards and RBL Insignia. Insignia gives you free Priority Pass access for international lounges and free movie tickets worth 500 per month. Apart from that there isn't much benefit. 

Lobogris wrote:

RBL Montly Treats which is mostly useless as they generally never credit the rewards and RBL Insignia. Insignia gives you free Priority Pass access for international lounges and free movie tickets worth 500 per month. Apart from that there isn't much benefit. 

Oh... this is quite interesting as I heard that RBL only issues one own card and one cobranded card...
Will try to get a secondary card from RBL if provided on LTF basis.